Mustard spot price declined by 40 points in last week at the Jaipur market. The spot price settled at 3940/quintal. Arrivals were in the range of 4.80-5.20 lakh bags on a daily basis. The news and effort of govt buying has not yet yielded as the price continues to decline in the spot and futures market. As per the trade sources the farmers are not willing to sell in Rajasthan as the payment procedure is slow and the coordination between the state government and the farmers is poor.
In the latest update now UP government announced to start buying Mustard and Chana at MSP from 15 April in 25 districts. The Rajasthan govt had announced to start the buying from 10 April, the mechanism is in place but the buying is on a slow pace as per the latest update from the spot market. Gujarat government will be buying mustard at the MSP from 20 April. Mustard continues to decline and is trading below the MSP.